June 19, 2024
Dogecoin


Crypto analyst Skew has highlighted a particular price level for Dogecoin (DOGE), which could turn profits for those invested in the meme coin. He also shared his thoughts on price levels to keep an eye on when positioning for entry in anticipation of an uptrend for DOGE.

$0.087 Is The Dogecoin Price Level To Watch Out For

Analyzing the daily Dogecoin chart, Skew hinted that there is a better risk-reward above $0.08750 for those who might be looking to get in on the meme coin. The analyst seemed to have a strong conviction about that price level as he made this comment despite noting that there was still a huge HTF range developing on the chart. 

Meanwhile, the analyst also highlighted other critical price levels to watch out for. These levels could paint a bullish momentum for the meme coin. He stated that he would be looking for a higher high above the December 2022 high of $0.11 and a higher low around $0.0094 or Doge’s peak in December 2023 when it rose to $0.10.  

Considering that DOGE has for a long time maintained a relatively tepid price movement, the meme coin hitting these price levels will mean that a significant rally could be underway. Going by crypto analyst Jaydee’s prediction, this rally could come once there is an ASO (Average Sentiment Oscillator) cross on the charts. 

Jaydee highlighted that as one of the three things that occur before the meme coin makes a significant move to the upside. This indicator seems to be the only thing that hasn’t occurred among the three, as the analyst had mentioned then that other indicators have been checked. 

Dogecoin price chart from Tradingview.com

DOGE price at $0.084 | Source: DOGEUSD on Tradingview.com

“DOGE To $1 Isn’t A Meme”

Max Schwartzman, the CEO of the crypto analysis platform Because Bitcoin also recently shared a bullish narrative for the foremost meme coin. He hinted that Dogecoin could rise to as high as $1 once Bitcoin breaks its all-time high (ATH) of $68,700. Based on historical patterns, he further suggested that DOGE could see more moves to the upside as Bitcoin pressures its ATH. 

Schwartzman also made a case for the PEPE token. With DOGE rising to as high as $1, he suggested that PEPE could also see a 100x gain. The analyst had previously drawn out striking similarities between both meme coins, with PEPE likely to enjoy a similar run as the Dogecoin did during its breakout year in 2021. 

Indeed, PEPE could begin to enjoy significant price gains as attention turns to the Ethereum ecosystem. Crypto analyst Crypto Kaleo once mentioned that he sees the meme coin printing new ATHs as ETH starts to move.

Featured image from 36Crypto, chart from Tradingview.com

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